Retail in Asia

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SuperGroup’s value drops following profit warning

Fashion retailer SuperGroup has issued a shock profit warning after uncovering maths errors in its forecasting.

The UK retailer, founded by entrepreneur Julian Dunkerton, also flagged the phasing of wholesale revenues and retail margins as factors resulting in profits now expected to come in at GBP43 million (USD64.5m) rather than the GBP50m previously expected.

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(Source: Drapers)